Cathay Bank Foundation
- Assets
- $500.5k
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- El Monte, CA
- Founding
- 09/2003
- Data as of
- 12/2021
- EIN
- 74-3052411
Organization Overview
Cathay Bank Foundation is located in El Monte, CA. The organization was established in 2003. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cathay Bank Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cathay Bank Foundation generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 13.2% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL GOLF TOURNAMENT: TO RAISE FUNDS TO SUPPORT CHARITABLE WORTHY ORGANIZATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Ching Co-Chair | 4 | $18,750 | |
Stewart Kwoh Director | 1 | $12,500 | |
Richard Sun Director | 1 | $0 | |
Wilson Tang Treasurer | 4 | $0 | |
Anthony Hua Director | 1 | $0 | |
Elizabeth Lee Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,435,861 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $3,435,861 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $31,250 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $38,843 |
| Total operating and administrative expenses | $84,093 |
| Contributions, gifts, grants paid | $2,899,000 |
| Total expenses and disbursements | $2,983,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,999 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $424,500 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $500,499 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $24,150 |
| Total liabilities | $24,150 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Cathay Bank Foundation has recieved totaling $1,700.
| Awarding Organization | Amount |
|---|---|
Schurgin Family Foundation Marina Del Rey, CA PURPOSE: CHARITY | $1,700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Groundswell Fund San Francisco, CA | $42,239,063 | $24,343,616 |
Americas Best Local Charities San Rafael, CA | $3,431,052 | $16,765,664 |
Bill Hannon Foundation Los Angeles, CA | $17,238,236 | $4,285,811 |
It Is Written Inc Riverside, CA | $12,378,597 | $15,533,924 |
Friends Of Family Health Center La Habra, CA | $48,269,218 | $21,982,956 |
Family Assistance Ministries San Clemente, CA | $4,435,253 | $12,485,569 |
Hidaya Foundation Santa Clara, CA | $4,651,500 | $12,437,401 |
Hyundai Hope On Wheels Fountain Valley, CA | $12,616,829 | $14,561,310 |
Philanthropic Impact Fund Beverly Hills, CA | $0 | $3,313,525 |
Providence Little Company Of Mary Foundation Torrance, CA | $121,035,875 | $18,031,300 |
Cambodian Childrens Fund Santa Monica, CA | $27,120,483 | $15,367,074 |
Xavier College Preparatory High School Palm Desert, CA | $46,603,211 | $9,301,462 |